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Controversy Regarding NY Times Reporter Edmund Andrews Article And Book
Reading Time: 11 minutesLast Sunday, The New York Times Magazine published a lengthy adaptation from a new book by one of their business reporters: “My Personal Credit Crisis” by Edmund Andrews. The article generated a lot of attention and commentary but some emerging…
50th Anniversary Of “Atlas Shrugged”; Thank You Ayn Rand
Reading Time: 3 minutes50 years ago today one of the truly great books of the 20th century was published: Ayn Rand’s Atlas Shrugged. The hostility evoked by any mention of Rand’s name is of course a given. But at root Rand’s ideas celebrated…
Pfizer Fined $2.3 Billion For Improper Marketing
Reading Time: 1 minuteThe Pfizer unit Pharmacia & Upjohn pleaded guilty to a single felony charge that accused the company of marketing its anti-inflammatory drug Bextra for broader uses and higher dosages than those approved by the Food and Drug Administration. – “In…
Citi Sells Stake To Abu Dhabi
Reading Time: 2 minutesCitigroup (C) just announced that they are selling a $7.5 billion stake to the sovereign wealth fund of Abu Dhabi, one of the United Arab Emirates. The stake is in the form of equity units which are “mandatorily convertible” into…
WSJ: Advisers Ditch ‘Buy and Hold’ For New Tactics
Reading Time: 4 minutesIt’s a complete rethink of how to do asset management. – Jeff Seymour, Triangle Wealth Management LLC in Cary, NC, who early last year changed from a buy and hold strategy to holding about 90% of client money in short term…
A Couple Of Relatively Quiet Days On Wall Street
Reading Time: 2 minutesOn Monday we had a mid afternoon swoon as the impetus from the Fed move began to wear off. But markets recovered on news of a Tuesday morning meeting between Bernanke, Treasury Secretary Paulson and Senate Banking Committee Chairman Christopher Dodd….